Jan Mortgage Approvals Rise 4%
The total amount of mortgage approvals in Jan rose to 39,230 which is a 4% growth on the previous month and according to figures released by the Bank of England, the rise in mortgage approvals might carry on going up.
The overall sum of mortgages approved in Jan this year came to £4.6 billion, this is a £900m increase on the previous month, although this increase is not as large as the monthly average of £1.6 billion or even as large as the rise in approvals we saw in February of £1.5 billion, however, the total amount of money that was approved in mortgages in Jan, £4.6 billion which was well over the estimated monthly average that was calculated using figures from the previous 6 months.
There was also some encourgaging news from the building societies, the overall amount of mortgages that had been approved in Jan rose to £1,542 million which is double the amount approved in the previous month. (Read on …)